Problem 3.37 High-Low Method, Scatterplot, Regression

Weber Valley Regional Hospital has collected data on all of its activities for the past 16 months. Data for cardiac nursing care follow:

Required:

In the computations below, use intercepts rounded to the nearest whole number and use X variable coefficients rounded to 2 decimal places.

1. Using the high-low method, calculate the variable rate per hour and the fixed cost for the nursing care activity. Enter negative answers with a minus sign.

Y

=

$

+

$ X